Tag: Estate Planning
-
Conservatorship? Guardianship? What Do They Mean for Senior Deed Transfers?
For a lifelong couple, the day comes when one partner starts to focus intently on the well-being of the other. Before then, it’s important for a couple to document their plans and wishes. But how will they transfer the jointly held deed to their home, when one of them loses the capacity to do so?…
-
Seniors Lose Billions Each Year to Scammers: 5 Quick Tips to Protect Yourself
According to the FBI, scammers take advantage of seniors to the tune of billions annually. A lot of this happens because seniors own a massive amount of U.S. real estate, a hard and valuable asset. To avoid enriching the wrong people, keep our five tips in mind. Consider sharing this column with friends who need…
-
Deeds in Disarray: Untangling Titles Passed Down Informally
When homes are passed down without a will, legal ownership can become questionable. Claims to the title can tangle. This happens most often in households of modest income (many who couldn’t afford probate). Loss of the home title, of course, pushes families into still harder situations. Indeed, a number of factors could keep households from…
-
The Bulk of U.S. Home Deeds Are About to Be Passed Along. Millennials, Are You Really Ready?
A Realtor.com survey is out, showing 23% of millennials feeling ready to buy a home in the next six months. This is an interesting turn in attitudes. And it only appears with millennials. Just 15% of their generation felt ready in late 2024. If you happen to be a millennial getting ready to buy —…
-
Quitclaim Deeds and Senior Homeowners: Convenience with Caution
When someone wants to know which kind of document makes it easy to pass real estate ownership, the quitclaim deed comes to mind. Convenient? You bet. And quite often, this convenient document is the senior’s deed of choice. This is because so many seniors decide, at some point in their lives, to transfer their homeownership…
-
We’re Inheriting a Deed Together (And My Co-Owner Has No Job)
Meet Terry, a new deed holder. Terry received the home from his mother. “My mother recently passed away,” as he tells the story. “I inherited the deed, with my sister. My mother was supporting her, but that’s come to an end.” His sister is already living in what used to be their late mother’s home.…
-
Transfer on Death Deed: Second Thoughts?
Avoiding the probate courts is an important goal for some homeowners. That’s why the transfer on death deedhas achieved popularity. One by one, most states have now adopted the option. Sometimes called the TOD deed, or just TODD, it offers a relatively simple way for a deed holder to say who’ll get the deed next.…
-
Older Adults, Look Out for These Two Common Deed Bloopers
What are the most common fumbles older adults make with deeds? Let’s take it from the top.
-
Life Estate Deed or Living Trust: Which Path Is Right for Your Home?
It’s never too soon to plan out the transfer of your deed after you pass. One way to do it? The tried-and-true method of writing your last will and testament and including your home in it. You have other choices, though. The life estate deed and the living trust are popular vehicles for a deed…
-
Do the Co-Owners Have Survivorship Rights? How to Change a Deed From the State’s Default
At some point, a couple might decide to change the way they vest a deed, to add rights of survivorship. It’s a commonly made decision. Say a couple has been together for some time and each wants to be sure their co-owner gets their interest in the home without having to pull it through the…
-
Skipped Probate? “Muniment of Title” Might Restore the Deed
Sometimes, when people’s rights to a deed collide, muniment of title can restore the deed to one of them. And sometimes, this process is used on purpose, to streamline probate. Let’s take a look at this strange phrase that can be well worth knowing about.
-
Senior Deed Transfers: Is Capacity In Question?
When an older adult transfers property, sometimes questions come up about whether the deed holder had legal capacity to transfer it. Did the person grasp the meaning of the transfer? Was the transfer voluntary? A court could undo a problematic deed transfer in a quiet title action. But deeds are presumed valid. If they’re properly…
-
Biggest Deed Slip-Ups (and How Not to Make Them)
Mistakes happen. When they happen to a deed, they can go unnoticed for a long time — sometimes leaving a clouded title through a chain of owners. But at some point, a deed mistake catches up to an owner, buyer, or heir. So, let’s take a look at 8 common homeowner deed mistakes, and how…
-
Transferring Property to Family: What to Know About Gift Deeds
A gift deed signifies a voluntarily title transfer from a “grantor” (the giver) to a “grantee” (recipient). Recipients are often loved ones or charities. A home’s transfer through a gift deed happens without consideration — meaning no money or thing of value is given in return. The deed states that the title is conveyed for…
-
Time for an Estate Planning Review? Check for 9 Common Deed Mistakes
Creating an estate plan is a wonderful thing to do for your loved ones. And it’s actually never too early to do your estate planning. Every homeowner should be confident that their intentions will be carried out, according to clear, effective documents. So, let’s briefly go over nine common mistakes to look out for when…
